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13 Webb Street

Projects

13 Webb Street

Location

Port Adelaide, SA

Size

GLA 15,520 sqm on Land 44,080 sqm

PURCHASE Date

June 2013

Sold

December 2020

Completed

TR

18.8

%

13 Webb Street
13 Webb Street
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Activities

Pre-acquisition, QE successfully negotiated a new 12 year lease with two option terms of 7 years with the long-standing occupant.

Strategy

A large office warehouse facility located approx. 14km north west of the Adelaide CBD. Close to the Adelaide port precinct benefitting from excellent access to road, sea and rail networks. The property was purchased on a sale lease back agreement from Arrium Limited (OneSteel Trading).

Outcome

Notwithstanding the relatively passive nature of this investment, we continually focused on developing and maintaining a strong relationship with the tenant. This resulted in undertaking upgrade works to the site in return for a 5 year lease extension. The property is currently tenanted by Infrabuild, a fully owned subsidiary of GFG Alliance that acquired the OneSteel Trading business.